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10 Jul 12 Amendments to revenue asset and trading stock roll-overs - ATO admin treatment

In the 2011-12 Federal Budget, the government announced a series of minor amendments to the income tax law to ensure the proper functioning of capital gains tax (CGT).

As part of the Mid-Year Economic and Fiscal Outlook (MYEFO) 2011-12, the government announced further amendments to make it easier for unit trusts to restructure their affairs in cases where they interpose a company, so that taxpayers hold shares in the company rather than units in the trust.

These changes will have effect from 7.30pm (AEST) on 10 May 2011.

In the 2012-13 Budget, the government announced further changes to broaden the scope and ensure the efficient operation of the revenue asset and trading stock roll-overs for the exchange of:

  • shares in one company for shares in another company
  • units in a unit trust for shares in a company.

These changes will apply from 7.30pm (AEST) on 8 May 2012.

The ATO has now published the administrative treatment it will apply pending enactment of these changes.


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